Affordable Housing Trust Fund FAQ
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Do I have to have to own the property in order to receive funding?
The Housing Trust Fund will give priority to projects which have site control (ownership) or if the property is under an option agreement. Please note that projects receiving Housing Trust Fund dollars are required by Ordinance 210873 to start within one year of the date the funding contract is fully executed.
Should I provide information regarding the income levels served?
Yes. Please provide detailed information regarding the units, including bedroom size and the income levels to be served.
How should I prepare my budget?
Please provide a total detailed budget. Please specify whether you are seeking a grant or a loan, what other funding sources you plan to leverage (including Housing Choice Vouchers or any other rental assistance programs), whether you have secured those other funds already, and whether you have already or plan to seek tax incentives. In addition, make sure you provide all the financial information to support your budget and any information that would give clarity to the reviewers.
How detailed of a development team do I need for my project?
Depending on the size and scope of the project, a development team typically consists of the owner, a developer (who can also be the owner) and/or consultant(s), an architect, engineer, designer, general contractor (or several contractors if the owner is acting as the GC), management company, a legal representative, and an accountant. Please list any of these team members that you are including in your application.
Do all questions have to be filled out?
Yes, any question left blank will potentially eliminate your project for consideration. Put N/A (Not Applicable) for anything you may feel that does not apply to your project.
Do I need to upload all requested documents?
Yes, any document not uploaded will potentially eliminate your project for consideration. This includes blank documents being uploaded.
Do Minor Home Repair projects qualify for HTF?
Yes, Minor Home Repair projects for single family homes do qualify for HTF.
Is Prevailing Wage required?
No, Prevailing Wage is not required for HTF project.
Is minority-/women-owned business enterprise (M/WBE) participation required?
Yes, per Ordinance 180535, M/WBE participation goals are set for each individual contract, based on the size of the projects and dollar amount of the contract, among other considerations.
Is workforce programming required?
In some instances. Per Ordinance 130275, participation in a construction employment program is required for any construction or redevelopment projects that require more than 800 construction labor hours and have an estimated cost over $300,000.00, if they receive City funds or tax abatement, unless a waiver is granted.
What funding sources do I need to provide?
ALL funding sources. Even the funding sources that you plan have applied for or will be applying for to meet your total project costs.
If I’m not selected, will my project be considered for the next RFP?
You can be considered for additional rounds, but you will need to re-apply when the next RFP is released.
If my project is selected, how long do I have to use the funds?
The Housing Trust Fund is using American Rescue Plan monies, as a result the City requires these projects to use the funding by December of 2024.
What type of support letters are required?
Letters from the Community can include neighborhood letters, tenant-led groups, school districts, social service agencies and other stakeholders. The letters should be current.
